Nigeria has achieved a trade surplus of N7.46 trillion in the second quarter of 2025, according to the National Bureau of Statistics (NBS).
This impressive figure represents a significant economic milestone, with the country’s exports substantially outweighing imports during the three-month period.
The robust trade performance stems from Nigeria’s total exports reaching N22.75 trillion, while imports remained controlled at N15.28 trillion.
Total trade volume hit N38.03 trillion, demonstrating the nation’s growing economic strength and international market presence.
Export Growth Drives Economic Momentum
Nigeria’s export sector demonstrated exceptional growth, increasing by 28.43% compared to the corresponding quarter in 2024. The export value rose from N17.71 trillion in Q2 2024 to N22.75 trillion in Q2 2025, showcasing sustained economic expansion.
Quarter-over-quarter growth also remained positive, with exports increasing by 10.45% from Q1 2025’s N20.60 trillion. Exports accounted for 59.81% of total trade, underlining their crucial role in Nigeria’s economic performance.
Crude Oil Maintains Dominance in Export Portfolio
Crude oil remained Nigeria’s primary export commodity, generating N11.96 trillion in revenue and representing 52.60% of total exports. This petroleum sector performance continues to anchor the country’s foreign exchange earnings and economic stability.
Non-crude oil exports contributed N10.78 trillion, accounting for 47.40% of total exports and demonstrating Nigeria’s gradual economic diversification. Non-oil products specifically generated N3.04 trillion, representing 13.39% of the total export value.
Spain Emerges as Top Export Destination
Spain topped Nigeria’s export destinations with purchases worth N2.47 trillion, representing 10.85% of total exports. India followed as the second-largest buyer, importing Nigerian goods valued at N1.98 trillion or 8.71% of total exports.
France, the Netherlands, and Canada completed the top five export destinations with values of N1.62 trillion (7.13%), N1.54 trillion (6.75%), and N1.43 trillion (6.27%), respectively. These five nations collectively accounted for 39.72% of Nigeria’s total export value in Q2 2025.
China Dominates Import Landscape
China maintained its position as Nigeria’s largest import source, with trade valued at N4.96 trillion, representing 32.45% of total imports.
This significant import volume reflects Nigeria’s continued reliance on Chinese-manufactured goods and industrial equipment.
The United States ranked second in import partnerships, supplying goods worth N2.16 trillion or 14.12% of total imports.
India, the Netherlands, and the United Arab Emirates rounded out the top five import sources with values of N901.48 billion, N606.82 billion, and N536.09 billion, respectively.
Import Categories Reveal Economic Priorities
Mineral fuels topped Nigeria’s import categories with N4.43 trillion, representing 28.95% of total imports and highlighting the country’s energy sector needs.
Machinery and transport equipment followed closely at N4.34 trillion or 28.38% of imports, indicating continued infrastructure development.
Chemicals and related products accounted for N2.46 trillion or 16.10% of total imports. The NBS data reveals Nigeria’s strategic focus on industrial inputs and essential commodities to support economic growth and development initiatives.
